Funding arb · Price arb /

AVAX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.1523%/8h= +166.7% APRpaid last 24h +0.274%

Price spread now: Bitget against Injective−0.994%7-day average +0.178% · you buy dearer than you sell

Net, funding: paid 7d − costs−$68as in the Funding arb table

Net, price: spread back to 7d avg − costs−$229as in the Price arb table

costs, in and out, $10k−$1121.122% of the position

Long on Injective Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days+0.439%+$44 on $10k

Price spread, last 4 days (all we have)+0.087%+$9 · spread now −0.994%, 7d avg +0.178%

Together, before fees+0.526%+$53 on $10k · with fees, hour by hour

Funding pays, the price is against you. Bitget is 1.173% cheaper against Injective than usual: you would sell low and buy high (spread −0.994% now, against its 7-day average of +0.178%). If the spread goes back, that is −$117 on $10k: about 2.6 days of funding at the current rate (+$46 a day). At the pace of the last 7 days (+0.439% in total) that is about 19 days.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.439% in total (about 22.9% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective AVAX/USDC PERP	10.760	−0.1423	get 0.0178% / 1h	35m 21s	$17K	$152K	12x
Short	Bitget AVAXUSDT	10.653	0.0100	get 0.0100% / 8h	2h 35m	$32.1M	$49.5M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against Injective. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee InjectivebpFee BitgetbpOrdersPrice spread, now −0.994%Rate

Funding earned: $319.79
Price spread: −0.994% → +0.178%: −$117.25
Slippage, 4 orders: −$100.14
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Bitget: 6 bp × 2 orders: −$12
Net: $90.38
Costs to cover: 1.122%
Break-even: 5.0 days

Slippage from Injective: live order book, 13 min ago; Bitget: live order book, 4 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Injective live order book, 13 min ago	42.47 bp	51.9 bp −$52	doesn't fit	doesn't fit	doesn't fit
Sell Bitget live order book, 4 min ago	0.47 bp	7.4 bp −$7	15.1 bp −$151	41.5 bp −$4,154	doesn't fit

AVAX on 36 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective AVAX/USDC PERPlong	−0.1423%	1h	10.760	long leg	$17K	$152K	12x
Kraken Futures PF_AVAXUSD	−0.0280%	1h	10.659	−0.936%	$4.2M	$11.5M	50x	as long as short
Nado AVAX-PERP	−0.0026%	1h	10.654	−0.985%	$291K	$338K	10x	as long as short
dYdX AVAX-USD	0.0000%	1h	10.649	−1.035%	$88K	$106K	10x	as long as short
Deribit AVAX_USDC-PERPETUAL	0.0000%	1h	10.658	−0.948%	$4.8M	$7.5M	25x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	10.655	−0.976%	$12K	—	150x	as long as short
Variational Omni AVAX	+0.0008%	8h	10.633	−1.182%	$2.8M	$2.1M	—	as long as short
Gate AVAX_USDT	+0.0034%	8h	10.653	−0.994%	$12.1M	$32.5M	75x	as long as short
Polymarket Perps AVAX-USD	+0.0084%	1h	10.657	−0.957%	$133K	$355K	10x	as long as short
Lighter AVAX	+0.0096%	1h	10.653	−0.995%	$1.2M	$2.6M	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Popdex AVAXUSDT	+0.0096%	1h	10.657	−0.957%	$18K	$448K	50x	as long as short
Paradex AVAX-USD-PERP	+0.0096%	8h	10.649	−1.034%	$12K	$212	20x	as long as short
Hyperliquid AVAX	+0.0100%	1h	10.663	−0.901%	$38.1M	$43.5M	10x	as long as short
Aster AVAXUSDT	+0.0100%	8h	10.653	−0.994%	$2.1M	$1.1M	75x	as long as short
Pacifica AVAX	+0.0100%	1h	10.650	−1.022%	$268K	$130K	10x	as long as short
Binance AVAXUSDT	+0.0100%	8h	10.655	−0.977%	$113.2M	$430.9M	75x	as long as short
Bybit AVAXUSDT	+0.0100%	8h	10.638	−1.134%	$78.8M	$144.3M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	10.641	−1.106%	$18.7M	$112.4M	50x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	10.658	−0.948%	$42.5M	$79.5M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	10.651	−1.013%	$13.3M	$22.8M	75x	as long as short
Bitget AVAXUSDTshort	+0.0100%	8h	10.653	−0.994%	$32.1M	$49.5M	75x
BingX AVAX-USDT	+0.0100%	8h	10.654	−0.985%	—	$54.3M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	10.642	−1.097%	$370K	$538K	15x	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	10.624	−1.262%	$336K	$957K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	10.627	−1.236%	$172K	$664K	50x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	10.660	−0.929%	$169K	$339K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	10.684	−0.703%	$11K	$756K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	10.654	−0.985%	$18K	$72K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	10.653	−0.990%	$344K	$794K	75x	as long as short
Phemex AVAXUSDT	+0.0100%	8h	10.655	−0.976%	$28.4M	$5.8M	50x	as long as short
Extended AVAX-USD	+0.0104%	1h	10.650	−1.025%	$641K	$1.4M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	10.651	−1.010%	$245K	—	3x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0216%	1h	10.655	−0.976%	$841K	$4.8M	50x	as long as short
BloFin AVAX-USDT	+0.0220%	8h	10.650	−1.022%	$4.7M	$5.6M	100x	as long as short
Reya AVAXRUSDPERP	+0.0244%	1h	10.651	−1.009%	$1K	—	20x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0444% / S −0.0273%	1h	10.654	−0.988%	$232K	—	120x	as long as short